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Bitstamp review

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Bitstamp Cryptocurrency Exchange

Bitstamp Cryptocurrency Exchange isn't available on Finder right now.

Fiat currencies
3
Supported assets
79
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Our verdict

Discover why Bitstamp is one of the oldest and most reputable exchanges in the cryptocurrency industry

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Bitstamp is one of the oldest and most reputable crypto exchanges in the world.

It’s earned its reputation as a no-frills exchange that stays online even when traffic to the site is high.

The exchange supports over 70 crypto assets, and, while its interface is suitable for beginners, the trading portal can be a bit overwhelming if you are just getting started in crypto.

With that said, the Know Your Customer (KYC) verification process is a bit tedious and the platform offers fewer trading pairs than some of its competitors.

Pros

  • Great customer support. If you have trouble using Bitstamp, you can contact a customer service representative for support via phone or email. It’s one of the few exchanges that offers customer support over the phone.
  • Over a decade of supporting crypto investors. Bitstamp was founded in 2011. It has served customers without hiccups aside from a hack in 2015. Customers who lost funds in the hack were reimbursed.
  • Complies with the Financial Crimes Enforcement Network regulations in the US. FinCEN is the peak body for regulating cryptocurrency exchanges in the US which requires Bitstamp to comply with laws and regulations that are intended to provide certain protections for users.
  • Trade with multiple fiat currencies. Bitstamp allows you to trade with 3 currencies including USD, EUR, GBP.
  • Deposit and withdraw USD directly to your bank account in the US. With Bitstamp you can deposit cash from your American bank account and cash out back into the same account.

Cons

  • 2015 hack. Bitstamp experienced a hack in 2015 in which over $5 million in Bitcoin (BTC) was stolen.
  • No derivative products. Bitstamp doesn’t offer any derivative products.
  • Not available to all US residents. Bitstamp is only available in 39 states. You can not use Bitstamp if you are a resident of Alabama, California, Colorado, District of Columbia, Hawaii, Kentucky, Massachusetts, Missouri, Montana, Nevada, Pennsylvania, Utah and Wyoming.
  • Comparatively high trading fees. Bitstamp charges maker/taker fees of 0.3/0.4% on the spot market which is high compared to some other platforms. If low trading fees are important, use our table to compare trading fees between platforms.

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question
  • Top-notch reliability and well-polished platform
  • Lengthy verification process and the trading platform is not ideal for beginners

Check out our full list of pros and cons or read on.

Details

Product details

Product Name Bitstamp Cryptocurrency Exchange
Fiat Currencies USD, EUR, GBP
Cryptocurrencies BTC, ETH, XRP, BCH, FET, LTC, ADA, XLM, OMG ZRX & 70 more
Deposit Methods Bank transfer
Credit card
Cryptocurrency
Debit card
SEPA
Faster Payments (FPS)
Trading Fee 0.0% - 0.40%
Deposit Fees Cryptocurrency: None; blockchain network fees apply
Bank transfer (ACH): None; bank fees may apply
Debit card transfer: 5%
Credit card transfer: 5%
Wire transfer: 0.05%
Withdrawal Fees Cryptocurrency: None; blockchain network fees apply
Bank transfer (ACH): None; bank fees may apply
Wire transfer: 0.01%
Bitstamp review

3

Finder Score

★★★★★

About Bitstamp — company background

Created in 2011, Bitstamp is one of the oldest and most reputable exchanges on the market.

Known for being a simple yet complete platform, it has increased in popularity over the past 10 years and is commonly used as a resource because of the accuracy of prices across exchanges.

It has stood the test of time and continues to be an excellent option for cryptocurrency trading and investing.

Listed Bitstamp crypto exchange assets

Bitstamp supports over 79 cryptocurrencies, but some notable assets are missing. Namely, BNB, Lido Staked Ether and Toncoin, which are in the top 20 cryptos by market cap. In total, 15 of the top 20 cryptos are available on Bitstamp.

Popular assets on Bitstamp
supports
Bitcoin (BTC)
supports
Ethereum (ETH)
supports
Tether (USDT)
does not support
BNB (BNB)
supports
Solana (SOL)
supports
USDC (USDC)
does not support
Lido Staked Ether (STETH)
supports
XRP (XRP)
supports
Dogecoin (DOGE)
does not support
Toncoin (TON)
supports
Cardano (ADA)
supports
Shiba Inu (SHIB)
supports
Avalanche (AVAX)
supports
Wrapped Bitcoin (WBTC)
does not support
TRON (TRX)
supports
Bitcoin Cash (BCH)
supports
Polkadot (DOT)
supports
Chainlink (LINK)
does not support
Internet Computer (ICP)
supports
Polygon (MATIC)

Bitstamp fees

Deposit & withdrawals fees

Transaction type Fee
Deposit funds Cryptocurrency: None; blockchain network fees apply
Bank transfer (ACH): None; bank fees may apply
Debit card transfer: 5%
Credit card transfer: 5%
Wire transfer: 0.05%
Withdraw funds Cryptocurrency: None; blockchain network fees apply
Bank transfer (ACH): None; bank fees may apply
Wire transfer: 0.01%

Other fees Bitstamp charges a 15% fee for Ether (ETH) and Algorand (ALGO) staking rewards earned via the platform.

Bitstamp uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.

Type Fee
Maker 0%-0.3%
Taker 0%-0.4%

Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.

Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.

Bitstamp deposit methods

  • Bank transfer
  • Credit card
  • Cryptocurrency
  • Debit card
  • SEPA
  • Faster Payments (FPS)

How to sign up on Bitstamp exchange

Before you can even get started trading on Bitstamp, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Bitstamp's commitment to certifications and compliance with regulations and insurers.

  1. Get started
    After selecting the Get Started button, fill in the create account form.
  2. Set up payment
    Before you can start trading, you have to add your bank account to your Bitstamp account. There are several options to choose from, so choose the option most compatible.
  3. Provide identification
    Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this.
  4. Start trading
    After all that is processed, you're ready to trade on Bitstamp.

Using the Bitstamp app

The Bitstamp app is available for Android and iOS devices.

Bitstamp has created an easy-to-use mobile app that allows portfolio tracking and trading among digital assets.

Is Bitstamp safe?

Having been around since 2011, Bitstamp has an upstanding reputation for both security and reliability. That being said, it has experienced difficulty in the past, although the issue was dealt with swiftly without any loss of customer funds.

Past Hacks. In 2015, Bitstamp suffered a hack in which 19,000 Bitcoin tokens were stolen from the exchange.

The hack also resulted in an interruption of services including issues related to deposit and withdrawals.

Bitstamp reimbursed its users for any losses they may have incurred.

Security Audits. Since the 2015 hack, Bitstamp has placed extra emphasis on the platform’s
security. It is regularly audited by one of the largest insurance companies in the industry, BitGo.

Insurance. Bitstamp has a $100 million insurance policy on the assets it holds through BitGo.

The exchange keeps 98% of user assets offline in cold storage to help offset the impacts of a successful hack.

Keeping your crypto secure

All centralised exchanges, including Bitstamp, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

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Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

Bitstamp customer support

Bitstamp excels in customer support as compared to most other cryptocurrency exchanges.

It offers worldwide live customer support a worldwide via a toll-free phone number and multiple email addresses that usually get replied to within 24 to 72 hours.

Bitstamp also has an in-depth FAQ page, which has nearly every aspect of the website covered in detail.

How to reach Bitstamp customer support

  • Contact form
  • Email
  • Phone

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Bybit Cryptocurrency Exchange

Bybit Cryptocurrency Exchange logo
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  • Licensed to operate in all European countries
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Ray

December 16, 2017

One of the cons for Bitstamp, according to the review, is that it may not be suitable for beginners. Why is that?


Avatar

Arnold

December 21, 2017

Hi Ray,


Thanks for your inquiry.


This exchange may be catered to more advanced coin traders. If you’re new to cryptocurrency trading, you may find our guide to Bitcoin Trading for Beginners very helpful. The guide will teach you everything you need to know before you start trading.


Hope this information helps


Cheers,

Arnold


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